South Indian Bank had announced the Q4 results with an all-time high net profit of Rs. 272.04 Crore for Q4 as against Rs. 6.79 Crore during the corresponding period of the previous year with a Y-o-Y growth of 3906%.
Highlights of Q4 results
o Deposits
– Retail Deposits up by 9.58% Y-o-Y
– Savings Deposits up by 22.06% Y-o-Y
– Current Deposits up by 12.49% Y-o-Y
– CASA up by 20.38% Y-o-Y
– NRI Deposits up by 6.13% Y-o-Y
o Advances
– Agriculture Loans up by 14.46% Y-o-Y
– Gold Loan portfolio up by 19.64% Y-o-Y
– Auto Loans up by 29.76% Y-o-Y
– Share of AAA rated accounts in large corporate segments (Rs.100 Crs and above) up by 16.34% Y-o-Y
Key Ratios
1) CASA ratio had improved to 33.21% as at March 31, 2022 compared to 29.73% as at March 31, 2021.
2) NIM had improved from 2.61% to 2.80% on Y-o-Y basis.
3) Capital Adequacy Ratio had improved from 15.42% to 15.86% on Y-o-Y basis.
4) The GNPA registered a decline of 107 bps to 5.90% as at March 31, 2022 compared to 6.97% as at March 31, 2021. NNPA registered a decline of 174 bps to 2.97% as at March 31, 2022 compared to 4.71% as at March 31, 2021.
5) Provision Coverage Ratio had improved from 58.73% to 69.55% on Y-o-Y basis
Q4 – Q-o-Q growth Rs. in Crore
| Quarter Ended | Quarter Ended | |||
| 31.03.22 | 31.12.21 | Growth | % | |
| Retail Deposits | 85,320 | 84,151 | 1,169 | 1.39% |
| Advance | 61,816 | 59,226 | 2,590 | 4.37% |
| NRI Deposit | 27,441 | 27,144 | 297 | 1.09% |
| Current Deposits | 4,862 | 4,660 | 202 | 4.33% |
| Savings Deposits | 24,740 | 23,569 | 1,171 | 4.97% |
| CASA | 29,601 | 28,229 | 1,372 | 4.86% |
| Gross NPA % | 5.90 | 6.56 | -66 | BPS |
| Net NPA % | 2.97 | 3.52 | -55 | BPS |
| Provisions excl tax | 77.71 | 346.37 | -269 | -77.56% |
| Net Profit after tax | 272.04 | (-)50.31 | 322 | 640.73% |
Yearly – Y-o-Y growth Rs. in Crore
| Year Ended | Year Ended | |||
| 31.03.22 | 31.03.21 | Growth | % | |
| Retail Deposits | 85,320 | 77,857 | 7,463 | 9.59% |
| Advance | 61,816 | 59,418 | 2,398 | 4.04% |
| NRI Deposit | 27,441 | 25,855 | 1,586 | 6.13% |
| Current Deposits | 4,862 | 4,321 | 541 | 12.52% |
| Savings Deposits | 24,740 | 20,269 | 4,471 | 22.06% |
| CASA | 29,601 | 24,590 | 5,011 | 20.38% |
| Gross NPA % | 5.90 | 6.97 | -107 | BPS |
| Net NPA % | 2.97 | 4.71 | -174 | BPS |
| Provisions excl tax | 1339.56 | 1574.94 | -235 | -14.95% |
| Net Profit after tax | 44.98 | 61.91 | -17 | 27.35% |
Mr. Murali Ramakrishnan, MD & CEO of the Bank, while announcing the results said that during the year FY 22, Bank could register growth in the desired segments like CASA & Retail Deposits on liability side and highly rated accounts in Corporate Segment, Gold Loan, Auto Loan etc on asset side.
During the year ended March 31, 2022, the bank could make a robust recovery and upgradation in NPA accounts amounting to Rs.1307 Crore compared to Rs.324 Crore during the corresponding period of previous year and the same had helped the Bank in substantially reducing the NPA levels.
The Capital Adequacy Ratio of the Bank had improved from 15.42% as on March 31, 2021 to 15.86% as on March 31, 2022.
Mr. Murali added that, the Bank had seen major shifts over last one year in the key functional areas viz. Digital Banking, Asset Structure, Revamping Branch Structure, New Business Sourcing Channels, Data Science Capabilities, Learning & Development, Employee Engagement & Motivation and Collection & Recovery Mechanism.
Segments like business loans, Gold loans and SME will be the key focus areafor FY 23, with strong backing of our digital banking capabilities. The bank will continue to churn Corporate Banking book maintaining quality, well rated portfolio. We are committed to scale up our business in a consistent and sustainable way.
The bank hopes to leverage the process of transformation and will endeavor to register Stable and Consistent Performance.